It will be hard for many parents to let their student bear the financial cost of overspending or making a late payment.
Parents may have to take out a loan to cover the cost of their child's education, but let your student shoulder a reasonable amount of debt by taking out a smaller loan.
"Emotions are high, and it's a struggle for us all to make sense of something so senseless, but let us keep this young student, his family, and Mr. Poland's family in our thoughts and prayers, " he said.
In an era when a high school diploma is no longer a guarantee of a good job, let's make college affordable for every qualified student. (Applause.) As I said at the State of the Union, no graduate should have to pay more than 10 percent of his or her income on student loans each year. (Applause.) We can see to it that they don't.
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Not only is the legislation pending, but we know how it can be paid for, which is to stop providing subsidies to banks and financial institutions that are serving as middlemen on student loans. (Applause.) Let's have those loans go directly to the students.
Let me explain: The plain truth is that no federal student loan borrower who acts in good faith to repay should ever have to default, given their current rights to make the debt more manageable.
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No individual student could possibly hope to afford even one book directly, let alone the small library required to read all around a subject.
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After asking several questions about his background as a writer, Vittore let me know he is a 17-year-old high school student living in Hong Kong.
"His philosophy on education is simple: let local people control their own schools, set high standards for every student and never give up on any child, " she said.
That was how we were going to get there. (Applause.) So when my brother and I finally made it to college, let me tell you, pretty much all of our tuition came from student loans and grants.
"Let me tell you what is weighing heavily on my heart, " the student continues.
As an art student, she barely had two pennies to rub together in 2003 let alone a budget for marketing.
For couples saddled with student loans and huge credit card bills the first impulse may be to let saving for the future take a backseat while you pay off your debt.
It basically looks at a single student's prior performance and says: This student, amongst his peers at this grade level, was in the - let's say 60th percentile.
Now, if you promise not to tell anybody, I will let you in on a little secret: I was not always the very best student that I could be when I was in high school, and certainly not when I was in middle school.
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Let's take those billions of dollars, and that then allows us to either lower student loan rates or expand grants.
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